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Saturday, April 5, 2014

Future of Travel - Several years of growth ahead ...

In 2013, for the first time the combined GDP of the "emerging countries" (including china) was greater than the combined GDP of the so called 'rich countries" (around 44 trillions dollars). The GDP center of gravity of the world is moving east and south.

But what about the travel industry? A new study written by Oxford Economics and commissioned by Amadeus named "Shaping the Future of Travel: Macro trends driving industry growth over the next decade" did predict an optimistic macro-economic outlook for global travel over the next 10 years !

The travel industry industry is projected to outstrip global GDP by some 2%; growing 5.4% per annum. Moreover, global travel is now set to grow at a significantly faster rate than during the financial crisis, where growth was just 4.1% per annum.

Report also predicts that large emerging markets will be driving this growth, with China set to surpass the U.S to become the world’s largest outbound travel market this year and the biggest domestic market by 2017

This report also emphasizes the importance of "seamless travel" and of door-to-door mobility.

Enjoy the read ...